The apostle is overwhelmed by all that we have "in Christ"
and here adds that we have obtained our inheritance "also"
in Him.

** The phrase "we have obtained an inheritance" translates
a single compound word in the original Greek.
eklerothemen - is an aorist passive indicative and was used in classical
Greek of the day to speak of something in the future that was so certain,
that it could not possibly fail to happen. The Greeks would speak of such
an event as if it had already taken place.

cf. Ephesians 2:6 "seated us with Him in the heavenly places"
(an aorist active indicative) Even though we have not yet entered into
that glorious experience, our dwelling eternally with the Lord is so
certain that Paul speaks of it as if it has already taken place!

The passive form of the verb here in our verse allows for two possible
renderings, both of which are consistent with what Scripture says about
inheritance. One rendering would be, "we have obtained an inheritance".
The other is "we were made a heritage".

**Does Scripture support the idea that Christ inherits us for His own?

Absolutely yes! cf. John 6:37 & 39, 10:29, 17:24 and Malachi 3:17

The context of Paul's statement here in chapter one though strongly
supports what we have received "in Christ" and that is why
the translators chose to give preference to the rendering that they
did. cf. 1Peter 1:3-4

** In his very next phrase, Paul uses a word we have studied before,
what is it?